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Obama calls for shared sacrifice in auto bailout
Fri, 16 Jan 2009President-elect Barack Obama says he wants to keep tough conditions on automakers that get federal loans. The companies must develop sustainable business models because it would be unacceptable "to keep them on their lifeline through taxpayer dollars in perpetuity," Obama told The Washington Post. Obama said industry restructuring will require "everybody, from labor to management to creditors to shareholders, giving something up." His comments contradict suggestions that the new administration will relax federal loan agreements reached last month with General Motors and Chrysler LLC, possibly with softer demands on the UAW.
Pagani Zonda R at the Nurburgring: on video
Fri, 06 Aug 2010The phrase 'broken record' at the Nurburgring has become ever so slightly over-used. Every other week, another manufacturer steps forward with claims of shaving time off the fabled record. Pagani are guilty of this as much as the next supercar brand. Yet for some strange reason, you can almost forgive them when you watch the documentary video footage below of Horacio Pagani talking you through the record-breaking, £1.3m, track-special Zonda R.
Chrysler future products: Only one minivan, no Jeep Compass
Tue, 29 May 2012In 2014, Chrysler Group will drop the Jeep Compass and replace the Chrysler Town & Country minivan with a crossover, Fiat-Chrysler CEO Sergio Marchionne has revealed. The changes are part of a long-term effort by Marchionne to give each Chrysler Group brand a more distinct identity and eliminate product overlaps. Brand identity is crucial for Chrysler because more than 90 percent of its dealerships now sell all four volume brands: Chrysler, Dodge, Jeep and Ram.